Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use
the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01

Other Events

On April 16, 2018, as permitted by the Small Business Credit
Availability Act, which was signed into law on March 23, 2018, the board of directors of Saratoga Investment Corp. (the Company) approved of the Company becoming subject to a minimum asset coverage ratio
(Asset Coverage Ratio) of 150% under Sections 18(a)(1) and 18(a)(2) of the Investment Company Act of 1940, as amended. The 150% Asset Coverage Ratio will become effective on April 16, 2019.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.